TiVo launches Stream 4K; Q1 revenue up 1%

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Suggesting that the move marks the company’s transformation from a trusted DVR provider to a streaming market innovator, providing one destination for all your home entertainment, TiVo has confirmed the retail availability of TiVo Stream 4K, providing customers with what it says is the market’s first unifying streamer, suggesting it is the ultimate streaming device that brings together shows and movies from your favourite platforms, live or streaming, on one screen.

Consumers can access live television from SLING TV alongside their favourite streaming video services such as Netflix and Prime Video. And with TiVo’s own TiVo+ content catalogue, there is less scrolling and more watching. First unveiled at CES Las Vegas 2020, TiVo Stream 4K is now available at TiVo.com with an introductory price of $49.99 (€46.30) and a free 7-day trial of SLING TV for new subscribers.

“At a time when viewers are streaming more than ever across a sea of platforms, TiVo Stream 4K integrates that content with recommendation and search features to make it easier to find, watch and enjoy the best news, entertainment and sports from today’s most popular services,” commented Dave Shull, president and CEO, TiVo. “After an incredibly positive reception from media and the wider industry at CES, we are delivering on our promise to launch TiVo Stream 4K, which is symbolic of our company’s transformation from a well-loved DVR provider to a pioneer in the streaming market.”

TiVo says the Stream 4K represents an evolution not only for TiVo and viewers, but also opens up new opportunities for content creators, content providers and advertisers to attract and engage new audiences. With its unifying and user-friendly interface, TiVo Stream 4K helps more people find and discover content they might not have before.

“Even with so much great entertainment content out there, millions of folks rely on SLING TV and live linear TV for breaking news, live sports and the latest season of their favourite shows,” noted Warren Schlichting, group president, SLING TV. “TiVo has taken search to the next level, making it more convenient for customers to take advantage of the value SLING TV offers.”

Additionall, TiVo has reported financial results for its first quarter ended March 31st 2020. Revenues were up 1 per cent to $159.9 million, which the company said was consistent with its internal plan.

“Despite this unprecedented public health crisis, our strategic vision and financial performance remain strong, validating our belief that there is a demand for the type of unified entertainment finding and watching experience that TiVo provides,” said Dave Shull, President and Chief Executive Officer. “On a year-over-year basis, the Company continued to execute on profitability initiatives to streamline the business, reducing its Non-GAAP Total COGS and OpEx by 16 per cent and increasing its Adjusted EBITDA by 55 per cent. In our IP business, we delivered double digit growth from the first quarter of last year and added another new multi-year patent license agreement in the OTT space during the quarter. In our product business, we launched TiVo Stream 4K, which provides a unique consumer solution for finding and watching favorite entertainment shows across a broad range of streaming services. Finally, we expect to complete our merger with Xperi in the current quarter. We believe the strategy and market drivers that underpin this transformative combination are more relevant than ever in the current environment.”

 

 


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